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Georgiades: Young economist takes Cyprus finance hot seat

April 2, 2013 10:30
Haris Georgiades, who was appointed the new Cyprus finance minister on Tuesday, is a young economist who will face the huge task of trying to the steer debt-ridden island out of bailout turbulence. Georgiades was catapulted into the critical and by some counts unpopular job only days before celebrating his 41st birthday on April 9 and just one month after he had been named labour minister.

Cyprus finance minister resigns

April 2, 2013 09:00
Cypriot Finance Minister Michalis Sarris resigned on Tuesday, saying one of the reasons was that he had been chairman of Laiki Bank, whose failure was a major contributor to the island's near financial meltdown. His resignation was accepted by President Nicos Anastasiades, presidential spokesman Christos Stylianides said. Earlier on Tuesday, the government launched a judicial probe into how the island was pushed to the verge of bankruptcy before having to agree a crippling eurozone bailout.

Cyprus leader says nobody immune from bank collapse probe

April 1, 2013 11:00
The Cypriot president pledged Monday that not even his own family will be immune from a commission of inquiry into allegations of wrongdoing in the run-up to a crippling eurozone bailout. President Nicos Anastasiades was responding to allegations that family members of leading politicians had taken advantage of privileged information to protect their assets from a hit on bank deposits imposed by European Union-led creditors last month.

Cyprus leader says nobody immune from bank collapse probe

April 1, 2013 10:45
The Cypriot president pledged Monday that not even his own family will be immune from a commission of inquiry into allegations of wrongdoing in the run-up to a crippling eurozone bailout. President Nicos Anastasiades was responding to allegations that family members of leading politicians had taken advantage of privileged information to protect their assets from a hit on bank deposits imposed by European Union-led creditors last month.

Cyprus leader says nobody immune from bank collapse probe

April 1, 2013 07:45
The Cypriot president pledged Monday that not even his own family will be immune from a commission of inquiry into allegations of wrongdoing in the runup to a crippling eurozone bailout. President Nicos Anastasiades was responding to allegations traded between the pro-government and opposition press that family members of leading politicians had taken advantage of privileged information to protect their assets from the swingeing hit on bank deposits imposed by international creditors last month.

Cyprus parliament to probe alleged loan write-offs: MP

March 30, 2013 09:15
Cypriot MPs will next week investigate a list of several million euros of alleged loans to politicians and others said to have been written off by the two banks at the centre of the island's financial crisis. Marios Mavrides, a deputy with the conservative Disy party of President Nicos Anastasiades, told AFP on Saturday "there is an ad hoc committee that will be investigating these privileged loans."

URGENT ¥¥¥ Cyprus will not leave the euro: president

March 29, 2013 05:15
Cyprus will not quit the euro following a harsh EU-led bailout deal that saved the island from bankruptcy, President Nicos Anastasiades was quoted by state media as saying on Friday. Anastasiades made the comment at an annual conference of civil servants in the capital Nicosia, the Cyprus News Agency reported. cc/dk/dv

URGENT ¥¥¥ Cyprus president cuts own salary 25%: aide

March 28, 2013 10:00
Cypriot President Nicos Anastasiades has decided to cut his own salary by 25 percent, while cabinet members will take a 20 percent reduction, a presidential aide said on Thursday. The president "has already authorised the accountant general to reduce his own salary by 25 percent," undersecretary to the president Constantinos Petrides told reporters. Both Anastasiades and the cabinet are also renouncing the 13th month salary to which they are entitled. cc/al/dk

President thanks 'maturity' of Cypriots as banks reopen

March 28, 2013 09:46
President Nicos Anastasiades thanked Cypriots Thursday for showing "maturity" after an unexpected calm prevailed when banks reopened after a 12-day shutdown as his government negotiated a bailout deal. "I would like to thank the Cypriot people for their maturity and collectedness shown in their interactions with the Cypriot Banks," Anastasiades said in English on his official Twitter account.

URGENT ¥¥¥ President tweets thanks to Cypriots as banks reopen

March 28, 2013 09:01
President Nicos Anastasiades tweeted his thanks to Cypriots for showing "maturity" as the island's banks reopened on Thursday after a 12-day shutdown as his government negotiated a bailout. "I would like to thank the Cypriot people for their maturity and collectedness shown in their interactions with the Cypriot Banks," Anastasiades said in English on his official Twitter account. dv/bpz
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